How to become an independent appraiser

[netbjorn]

Hi

My first post to this informative forum that has allready taught me a lot about diamonds. I´m interested in knowing what sort of training, experience is needed before someone can call himself an independent diamond appraiser. What sort of background is good to have and what is a must have. And finally what should you look for when you chose one.

Thanks, Netbjorn

 

[Richard Sherwood]

Appraising is difficult. You have to know a lot on a myriad of subjects. It's requires much less knowledge to get a job in sales for example, than it is to just jump into appraising.

The majority of insurance companies will no longer accept an appraisal from a non-gemologist. So your best first step would be to get a degree in gemology. The two schools I would recommend would be the Gemological Institute of America (which awards the GG), and the Gemmological Association of Great Britain (which awards the FGA).

I would also recommend getting at least five years experience in the business before attempting to appraise. You could do this concurrent with taking the courses if you took them on an out-of-residence basis, either through the internet or correspondence. Or, alternatively, you could go direct to the schools and do it in-residence. If you take 8 hours a day of straight gemology, 5 days a week, you can finish the GIA GG course in six months. Most people finish the out-of-residence courses in about three years, if they're diligent in working on them a couple hours each day. The dropout rate is 75%, not so much because the course is difficult, but because most people can't keep up the diligence.

During the time you're doing this, I would recommend attending as many gem shows and continuing education courses as possible. Also rubbing shoulders with your peers by joining one or two good appraisal organizations like the ASA or NAJA would be a good idea. If you're able to find a mentor who will help you along the way, so much the better.

 

[netbjorn]

Thanks for the information.

Are insurance companies the biggest clients for appraisers? What other clients do you get and are appraisers in direct competition with companies such as the GIA and similar companies?

thanks, netbjorn.

 

[Richard Sherwood]

Customers are composed of:

Private individuals
Jewelers and dealers
Bank estate departments
Attorneys (for estates, divorces & misc settlements)
Insurance companies

Appraisers supply a different function than the GIA (determining value), and therefore tend to have a market of their own, although I guess you could say we're in competition with GIA when a client comes to us for a grading report rather than the GIA.

 

[Rank Amateur]

Appraiser?

Isn't that three box tops and two Saturday afternoon classes?

Oh wait. That's a real estate agent.

{{ducks}}